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Medical insurance and your taxes

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Medical insurance and your taxes

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Revealed on February 22, 2024

If you happen to had Market protection at any level in 2023 and bought the , right here’s what that you must learn about submitting your federal taxes. 

Preserve your Type 1095-A in a protected place 

This type has vital details about the Market plans your family had in 2023. 

Test that your Type 1095-A is right 

  • Make sure that your family and protection info, the “second lowest price Silver Plan” quantity, and the month-to-month premium are right. 
  • If you happen to discover a mistake, contact the Market Name Middle. 

“Reconcile” along with your Type 1095-A 

If you happen to certified for or used the premium tax credit score to decrease your Market plan premium: 

  • Use the knowledge out of your Type 1095-A to finish Half II of Type 8962 (PDF, 110 KB). 
  • If there’s a distinction between the quantity of the premium tax credit score you used through the yr and the quantity you truly qualify for, it’s going to influence your refund or the quantity of taxes you owe. 
  • You’ll embrace Type 8962 along with your federal tax return. Get particulars on methods to reconcile.

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